Attorney General Laments Grown of Colorado Payday Loans
Payday advance lending continued its rapid growth in Colorado last year, jumping 28 percent to $632 million.Regular and online payday loans first topped…
Yearly Archive
Archive: 2007
Arizona Payday Loan Companies Form Organization
Companies that make money providing faxless payday loans have formed an organization they say is designed to “reform” their industry.However, a lobbyist…
Canadian Payday Loan Survey Shows Surprising Results
A new report out of British Columbia says the typical payday advance loan customer is employed and educated with an average income.“This survey will begin…
Study Takes a Look at Alternatives to Payday Advances
The Federal Deposit Insurance Corporation (FDIC) is now accepting bankers’ applications to participate in its Affordable and Responsible Consumer Credit…
New Mexico Payday Loan Regulations Set to Take Effect
New faxless payday loan regulations will go into effect November 1. Gov. Bill Richardson, who pushed for the rules, calls them some of the toughest and…
Canadian Payday Loan Association Applauds New Law
The Canadian Payday Loan Association (CPLA) this week applauded the British Columbia government for passing important personal cash loan legislation that…
Payday Loan Cap Defeated in New Hampshire
A New Hampshire House subcommittee voted last week against a 36 percent cap on payday loan and title loan interest rates, endorsing instead an interest…
Status Quo for Payday Advance Firm
More than two years after a father and his two sons went to court in a bitter battle to control a Mason payday loan company, a Hamilton County judge has…
Wisconsin Payday Loan Store Robbed. Again.
Everest Metro Police in Wisconsin confirmed that someone has robbed the Payday Loans store in Weston on Friday morning.
Sacramento Looks to Curb Payday Loans
Sacramento wants to stem the proliferation of quick-cash operations like payday advance loan lenders and check-cashing stores that officials say prey on…
Group Offers Alternatives to Delaware Payday Loans
Seeking to break “the endless cycle of debt and despair” caused by high-cost payday advance lending, a Wilmington nonprofit organization Monday launched…
Credit Unions Seek Payday Loan Customers
A growing number of the nation’s 9,000 credit unions are hoping to steer consumers strapped for cash away from costly faxless payday loans by offering…
Payday Loans Can Be Repaid Slowly
According to The Wichita Eagle…
Ohio Payday Advance Bill Receives Bipartisan Backing
When House Speaker Jon Husted decided to encourage bipartisan sponsorship of bills in the current legislative session, it surprised many.
Waynesboro Approves Payday Loan Referendum
Waynesboro has joined Staunton and Harrisonburg in the fight to cap payday loans, and the city also approved a referendum pamphlet at its Tuesday night…
Virginia City to Review Payday Loans, Cash Advances
Following in the footsteps of their northern neighbor, Waynesboro, VA leaders will consider petitioning for stricter payday loan lending laws, an issue…
Stop Missouri Payday Loans!
The following is an editorial from The News-Leader…
Ohio Payday Advance Outlets Prevalent in Hocking County
Pay day loan lending companies in Ohio have expanded exponentially within the past 10 years and Hocking County has one of the higher concentrations of…
Payday Loan Store Growth in Utah: Cooling
The once-explosive growth of instant payday loan stores in Utah — which often offer two-week loans for a whopping 500 percent annual interest rate —…
Sacramento Considers Payday Loan Regulation
In the 10 years since payday loans were legalized in California, at least 81 payday lenders have opened in Sacramento. Some city officials say that’s more…
Kansas Payday Loan Stores are Everywhere
Each time she drives past the payday lenders near her home, neighborhood activist Lori Lawrence wonders: “Why on Earth do we need two of them across the…
Military Payday Loan Act to Take Effect
As U.S. soldiers face continuing demands in the call to protect their country, starting October 1 they gain an extra measure of protection from a…
Survey: Ohio Residents Understand, Still Use, Payday Loans
Ohioans with lower credit scores who turn to cash-advance storefronts to cover unexpected expenses understand the costs involved and don’t want lawmakers…
Former Employees Criticize Payday Loan Lender
Former employees of a Cincinnati area payday advance lender have criticized the company’s business practices, saying they were pushed to solicit minority…
Nonprofit Payday Loans: Do They Work?
APPLETON, Wis. — This city of 70,000 has five McDonald’s franchises, three Pizza Huts, four Starbucks shops — and 19 payday loan stores, brightly lighted…
Wisconsin Bill Would Cut Down on Payday Loan Sharks
State Rep. Josh Zepnick (D-Milwaukee), a member of the Assembly Committee on Financial Institutions, has introduced two consumer protection bills designed…
Florida Payday Loan Fraudsters Indicted
A federal grand jury in Florida has indicted a handful of payday loan executives and their sales agent for their roles in a scam that raised over $1.6…
Payday Loan Lenders Launch Ad Campaign in D.C.
The local payday cash loan industry has launched an aggressive advertising campaign to try to persuade the D.C. Council to reverse a vote that would limit…
Wisconsin Payday Advance Lending to Face Regulation
The payday cash advance lending industry should provide more information to borrowers than they currently do, Rep. Andy Jorgensen (D-Fort Atkinson) said…
Missouri Woman Files Lawsuit Against Payday Advance Lender
A St. Louis resident has filed a class-action suit again Advance America, a major payday loan company, accusing the company of predatory lending…
Payday Loan Rules Dismissed in Canada
New rules in several provinces are supposed to protect consumers from sky-high interest rates and fees at payday loan companies, but a consumer lobby…
Ohio Payday Advances Must be Reined In
The following is an editorial from The Cleveland Plain Dealer…
New Rules on Payday Loans in Ontario
People looking to take out a Canadian payday cash loan now in Ontario have a clear picture of the true cost of their decision.
Payday Loan Company Shares Hit All-Time Low
Shares of Spartanburg payday lender Advance America hit an all-time low Wednesday a day after a Pennsylvania court ruled the Spartanburg cash loan company…
Court Closes Pennsylvania Payday Advance Lender
A payday cash advance lending business violated Pennsylvania consumer law by providing loans of as much as $500 to people in return for 6 percent interest…
Editorial: Payday Loans are a Necessary Product
The following is an editorial from The Roanoke Times…
Illinois Payday Loan Reform: Mixed Results
A state study found that a 2005 law regulating Illinois payday loans saved borrowers $20.6 million in loan fees and interest charges over 18 months.
Pennsylvania Organizations See Other Side of Payday Loan Lending
There are some organizations in Pennsylvania, such as The Ludwig Von Mises Institute, which support faxless payday loans and oppose the government…
Payday Loans Fuel Cash America Gains
Revenue growth for payday loans, including those extended over the Internet, helped Fort Worth-based Cash America International rack up a 19 percent…
Utah City Considers Cap on Payday Advance Loans
Orem city officials have put a cap on the number of payday advance lending stores they will accept in their city, hoping to limit the opportunities for…
Electricity Provider Severs Ties with Payday Loan Company
UniSource Energy Services, the electricity provider in Nogales, has announced plans to eliminate the option for customers to pay in cash at ACE Cash…
Christians: Payday Loans Can be Useful in an Emergency
ChristiaNet.com, the world’s largest Christian portal with twelve million monthly page loads, conducted a new poll by asking the question, “Are payday…
Blue Springs to Draw Line on Missouri Payday Advances
Blue Springs is on its way toward regulating faxless payday loan offices.
Payday Loans: A Military Matter
In January, Maj. Gen Mike Lehnert, commanding general for Marine Corps installations west of the Mississippi, asked the Oceanside City Council to do…
Do North Carolina Banks Foster Need for Payday Loans?
Two of Charlotte’s economic giants, Bank of America and Wachovia, bankroll some payday advance loan lenders - the same lenders whose operations…
Ohio Payday Loan Lenders: Helpful or Harmful?
After successfully tackling predatory Ohio mortgage lending, advocates for the poor are taking aim at payday lenders whose numbers have grown more than…
Arizona Payday Advance Fraud Uncovered
Police believe a man arrested at a Chandler payday loan store this week had developed a scheme to cash checks using fake pay stubs and accomplices posing…
John Edwards: Down with Payday Advances!
Democratic presidential candidate John Edwards, on an eight-state swing to highlight poverty issues, on Tuesday called for a national law to crackdown on…
Payday Loan Company Refutes National Report
A recent report issued by the National Consumer Law Center is absent what should be a critical element of any report: the facts.
Payday Advance Lenders Close Doorts
Sawbucks closed two of its three Klamath Falls locations in anticipation of the new state regulations that cap interest rates for payday loans.
Virginia Payday Loan Debate: Not Over
Payday advance lenders dodged a legislative effort to reduce their usurious interest rates at this year’s General Assembly session. But Gov. Timothy M…
No Sympathy for Oregon Payday Loan Lenders
The following is a paraphrased editorial from The Register-Guard in Oregon…
Payday Advance Lenders Pull Out of Oregon
Scores of Oregon payday and car title lenders have closed their doors, as a 36 percent interest rate cap on regular and faxless payday loans and other new…
Payday Loans: Deal or No Deal?
The following is an editorial from The Viriginia Times-Dispatch, focusing on the state’s payday loan lending fight:
Governor Calls for Tighter Virginia Payday Loan Controls
Governor Timothy M. Kaine (pictured) renewed his call for tighter controls on the controversial payday cash advance lending industry Tuesday, but he…
Borrowers Clash on Arizona Payday Loans
Diane Robles, a recently divorced mom, was working as a secretary and going back to school when she borrowed $100 from a payday advance loan lender to…
New Limits Placed on Oregon Payday Loan Lenders
The Oregon Senate Monday approved new limits and restrictions on high interest-rate lenders. The legislation was inspired by critics of payday loans who…
Payday Advance Ties Dropped by Utility Companies
Arizona’s major utilities have ended a longtime practice of allowing customers to drop off electric and gas payments at cash advance payday loan centers…
Payday Advance Loans a Problem in Germany
Payday advance loans are becoming an increasing burden on the purse strings of the poorest families, a new survey conducted by consumer information site…
Payday Advance Lenders Catch the Attention of Lawmakers
Claiming they are protecting consumers, lawmakers in Nevada, New Mexico and Oregon recently have clamped down on the short-term, high-interest fast payday…
Developing Alternatives to Virginia Payday Loans
Ward Scull, a Newport News resident, and Mike Lane, a Gloucester resident and former deputy commissioner of U.S. Customs, are co-founders of Virginians…
Gas Station Ditches Arizona Payday Advance Option
No longer will Southwest Gas Corp. steer customers to Arizona payday loan lenders to pay their gas bills in cash - effective immediately.
Virginia Cash Advance Stores are Reasonable Options
The Daily-Press June 9 letter “Cap ‘misery’,” which argued for a 36 percent APR cap on payday loans, was not based on important facts. Payday loans are…
Payday Advance Lenders Supported by Major Banks
Seven significant faxless payday loan chains are extensively bankrolled by brand name banks.
Financial Service Advises Against Payday Loans
It’s an all too typical scenario.
Banking Innovator, Opponent of Payday Advances, Retires
In the early 1970s, Bill Myers (pictured) saw how hard it could be for a small business to get a loan when he was a member of the Somadhara Bakery, the…
Pentagon Rules Leave Soldiers Open to Predatory Payday Advance Lenders
Consumer advocates strongly urged the Department of Defense Monday to make significant changes to proposed federal regulations to ensure that predatory…
Woman Laments Oregon Payday Loan Loss
Legislators say the new Oregon payday loan law will stop lenders from shattering the finances of it’s customers. But with cash stores closing down, some…
Utility Customers Exposed to Payday Advance Outlets
Utilities that direct customers to pay electricity, natural gas and telephone bills at bad credit payday loan stores make those customers targets for…
Arizona Payday Loan Company Robbed, Suspect Still at Large
A man wearing panty hose over his head robbed an Arizona payday loan store in East Mesa on Thursday evening of last week, officials say.
British Columbia Payday Loan Bill Halted, Lender Applauds Move
“The legislation does not strike a fair balance between consumer protection and fostering a competitive lending environment. In fact, the bill as…
Oregon Payday Loans Capped By Senate
The Oregon State Senate officially voted this morning to crack down on out-of-state Internet payday loan lenders operating in Oregon by limiting the…
Study: Utah Payday Advance Companies Donate to Politicians
A watchdog group says payday advance loan lenders might continually escape tighter regulation in Utah because of the growing political donations made by…
Panel Approves Oregon Payday Advance Cap
A Senate committee approved two bills Wednesday afternoon that would block attempts by providers of payday loans and car title lenders to circumvent new…
Payday Loan Report from Across the Nation
Payday advance lending has become a multibillion-dollar industry and is growing online, according to Stephens Inc., a Little Rock brokerage research firm…
Immigrants Likely Victims of Payday Loan Abuses?
Illegal immigrants could fall prey to loan sharks and other unscrupulous quick payday loan lenders if they have to pay $5,000 in fines and thousands more…
Let Borrowers Make Own Payday Advance Decisions
Pretend for a moment that — like most Arizona residents — you make enough to make ends meet but haven’t accumulated much in the way of savings or assets.
New Oregon Payday Loan Legislation in Place
A Senate committee Wednesday afternoon approved two bills to prevent payday cash advance and car title lenders from charging triple-digit interest rates.
The Nemesis of Payday Loans in Virginia
As faxless payday loan lenders have flourished throughout Virginia, they’ve had to fend off opponents from nonprofit groups that advocate for the poor at…
Oregon Payday Advance Lenders Speak Out Against Rate Cap
Payday loan and car title lenders turned out in force early Monday morning to tell a Senate committee why they oppose a bill that would put a 36-percent…
Payday Loan Borrowers in Virginia Run Into Trouble
Payday loans work just as state lawmakers claim - for about 10 percent of the borrowers.
Arizona Payday Loan Bill: In Danger
Lawmakers deadlocked yesterday on whether to extend the state’s authorization for instant payday loans, creating uncertainty about the fate of a bill that…
Virginia Legislator Fails to Crack Down on Payday Loans
What more evidence do they need?
Decatur Attorney General Speaks About Payday Loans
Each time 57-year-old Ruby Price had to take out a payday loan, it cost her dearly.
A Payday Loan Alternative in Canada: Micro-loans
They are popping up all across Hamilton. You pass half a dozen of them walking along King Street East between Wellington and James streets: storefront…
Virginia Payday Loan Borrowers Take Out Fewer Advances
For the first time since payday advance loans were legalized in Virginia in 2002, the number of Virginians taking the loans out shrunk - even as the…
Arizona Payday Loan Lending: A Crime?
A veteran state legislator and some colleagues took the first steps Monday to make it a crime to issue a payday cash loan in Arizona.
National Payday Loan Group Urges Lenders to Abide by Laws
The national trade group for payday advance lenders has called on its members nationwide who make loans over the Internet to comply with all state laws…
Will Canadian Payday Advance Bill Die?
The head of the association that represents 23 instant payday loan companies in Canada is concerned that legislation to regulate the industry might not…
The True Cost of Payday Loans
Here is a recent editorial from a Canadian newspaper:
Canadian Payday Loan Law Receives Royal Ascent
Canadian Bill C-26, a law allowing individual provinces to cap interest rates on faxless payday loans, received “Royal Ascent” on May 4.
Arkansas Payday Advance Opponents Step Up
Despite the state General Assembly’s failure to criminalize high-interest consumer savings account payday loans during the 2007 session, just completed…
Canadian Payday Cash Advance Regulations Applauded
The Salmon Arm Observer in Canada wrote the following response to recent payday cash advance regulations in the country …
Ontario Vows Protection on Payday Loans, Cash Advances
Ontario is determined to enact a law to protect users of the instant payday loan industry, according to the minister of government services.
Arizona House Approves Payday Loan Protections
The Arizona House has approved legislation to give new protections to bad credit payday loan borrowers.
Canadian Payday Loan Companies Must Disclose All Costs
Faxless payday loan companies will now have to inform customers how much it costs to borrow cash under new rules announced by the Ontario government.
Payday Loan Lender Appeal Denied
A payday advance loan lender who had two offices in White County has lost an appeal of a state ruling that he violated the law.
A Payday Loan Question and Answer
The following is a question submitted to consumer advocate, Mike Boguslawski:
British Columbia Payday Loan Association Calls for Hearings
The British Columbia Payday Loan Association (BCPLA) called on the provincial government to hear witnesses on Bill 27, the Business Practices and Consumer…
Kansas Payday Advance Businesses Could be Restricted
Payday loan and check cashing businesses may be restricted in Smithville in the not-so-distant future.
Make Way for Canadian Payday Loan Legislation
Federal legislation giving provinces the power to regulate the sometimes faxless payday loan industry has cleared its final hurdle.
District Attorney Steps Up Payday Advance Fight
The District’s attorney general yesterday proposed legislation to limit high fees charged by financial businesses, such as those that provide payday…
Payday Loan Company Reports Widespread Gains
Cash America is flush with cash. The instant payday loan and pawnshop operator reported strong growth in its cash advance operations, along with increases…
San Francisco Attorney Sues Payday Loan Lenders
The San Francisco city attorney’s office filed a lawsuit Thursday against two short-term payday cash loan establishments for exploiting borrowers with…
Alabama Residents Should Maintain Credit, Payday Advance Options
Lowell Barron, D-Fyffe, represents District 8 in the Alabama Senate. He penned the following paraphrased take on payday loans for The Montogomery…
Bill Aims to Extend Arizona Payday Loan Payment Deadlines
Arizonans who take payday loans would get more time to pay them back without financial penalties under the terms of legislation given preliminary House…
El Paso Residents Turn to Texas Payday Loans
In El Paso, where 200,000 people live below the poverty line, it costs more to be poor. Strapped for cash, but without good credit or an another…
Missouri Payday Loan Companies: Friend or Foe?
You’ve seen them dotting business loops and adorning strip malls.
Regulators Won’t Push for Utah Payday Loan Elimination
State regulators are willing to discuss with legislators the activities of payday cash advance lenders - but are not planning to push any specific bills…
Texas Bill Tackles Predatory Payday Cash Advance Lenders
After being scammed by a remodeling contractor several months ago, Yolie Garcia, 30, needed money to help care for her three children and make mortgage…
Iowa Credit Unions Develop Alternatives to Cash Advances
In a recent editorial on the interest cap that will be imposed on car-title lenders, the Register encouraged credit unions to reach out to “Iowans without…
Class Action Suit Against Pennsylvania Payday Loan Lender
A Philadelphia woman has filed a multi-million dollar class action lawsuit against a Utah-based lender that makes online payday loans through sites.
Arkansas Payday Loan Battle: Back to the Courts
With the Legislature’s failure to further regulate providers of payday advance loans for the fourth consecutive session, the battle over the…
Don’t Ban Arizona Payday Loans. Fix Them.
Thanks to a bevy of unflattering media reports, there are probably few industries as vilified as the Arizona payday loan industry. Still, those who…
Payday Loan Shark Dogs Mayoral Candidate, Spotlights Controversial Lending Past
Democratic rivals of millionaire Tom Knox finally saw something to smile about yesterday: a guy dressed as a shark outside the Philadelphia mayoral…
FDIC Targets Payday Advance Lenders
Payday advance loan lenders, already in the sights of the U.S. Department of Defense, have now been targeted by the Federal Deposit Insurance Corp.
Florida Payday Loan Companies Ignore Regulations
The 2001 state law that reformed the Florida payday loan lending business in the state is being ignored by some of the companies it was designed to…
New Mexico Governor Signs Payday Loan Bill
Payday casn advance lenders will come under tighter regulation by the state later this year under legislation signed into law Friday by Gov. Bill…
Sailors Receive Payday Advance Assistance
The Navy and the California Reinvestment Coalition (CRC) are working with various banking institutions to provide low-cost consumer loans or “quick…
Advance America: Most Payday Loan Clients are Responsible
Ken Compton is the chief executive officer of Advance America, the nation’s largest provider of payday advances. The company, based in Spartanburg, S.C…
Nevada Courts Over-Run by Payday Loan Cases
The courts are swamped with lawsuits and one-third of all cases come from Nevada payday loan-type businesses. It’s a reflection of the loan industry and…
Senate Votes to Restrict South Carolina Payday Loans
A Senate panel voted Thursday to restrict South Carolina payday loan lending. The proposals would limit loans to five a year and decrease the loans’…
Alabama Payday Loan Bill Introduced
Sen. Lowell Barron, D-Fyffe, has introduced a bill designed to reform the state’s controversial Alabama payday loans.
New Hampshire Payday Loans Lure in Poor
Sarah Mattson is a staff attorney for New Hampshire Legal Assistance in Manchester. The following is from the New Hampshire Union Leader …
Pressure Placed on Nevada Payday Advance Companies
A KLAS TV report …
Behind the Scenes of Washington Payday Advance Bill
Legislation in Washington to reform the payday loan lending industry appears to be dead. Oregon Public Broadcasting correspondent Austin Jenkins reports…
For Some, Payday Loans are Helpful Option
Looking for some fast cash Monday, Tony Simmons stopped by a payday advance loan lending business on Rivers Avenue.
House Approves Tennessee Payday Loan Bill
New regulations for Tennessee payday loan lenders were advanced by a House panel today.
Georgia Cash Advance Employee Responds to Proposed Payday Loan Bill
In The Walker County Messenger, Joe Thrash had the following, paraphased things to say …
Letter to the Editor Focuses on Payday Loan Crackdowns
The following is a letter to the editor from The Kansas City Star:
Hawaii Payday Loan Lenders Welcome Regulations
Hawaii payday loan lenders who offer short-term loans are eager to combat the image that they’re locking low-income borrowers into a cycle of escalating…
Georgia House Split on Payday Advance Loan Issue
The issues of payday advances in Georgia is far from dead, as the House remains split on the issue.
Payday Advance Companies Meet Consumer Demand
Members of the Missouri General Assembly have introduced bills to further regulate the growing guaranteed payday loan industry in the state, but…
Payday Loan Reforms Aimed at Minority Borrowers
In California and across the nation, reforms aimed at African-American and Latino payday loan borrowers seek to educate customers about the use of such…
Washington Payday Loan Bill Appears Dead
Despite much sound and fury, it appears legislators will do nothing this year to crack down on controversial Washington payday loan lenders.
Alabama Newspaper: Restrict Payday Advance Practices
Regulating Alabama payday loans under the state’s Small Loans Act, as Sen. Bradley Byrne of Montrose wants to do, would be a good step toward protecting…
Arkansas Payday Advance Loan Bill Wins Senate Support
A bill that would tighten some rules on Arkansas payday loan lenders won the support of a Senate committee Tuesday. But the measure is a weaker version of…
Survey: Majority of Americans Live Paycheck to Paycheck; Payday Loan Need Explained
Four out of 10 U.S. workers often or always live from paycheck to paycheck, according to a survey released on Monday.
Deseret Morning News Editorial: Continue to Pressure Payday Advance Companies
Feeling the pressure of proposed legislation to do more to regulate Utah payday loan lenders, industry representatives have taken to the airwaves with…
Utah Suburb Closes Door to Payday Advance Stores
The southeast Salt Lake Valley suburb of Sandy all but closed its borders to new Utah payday loan stores Tuesday.
Financial Experts Warns Against Predatory Payday Cash Advance Lending
A loan to buy a house or pay for college is one thing, but there are other loans borrowers should never, ever take, warns financial author and radio host…
Legislation Proposed to Cut Rates on Alabama Payday Loans
A state senator says a bill he introduced in the Senate would substantially reduce the interest customers pay when they take out Alabama payday loans.
North Carolina Treasurer in Trouble Over Payday Advance Funds
At the same time that N.C. Treasurer Richard Moore (pictured) sharply criticized payday advance loan lenders last year, he managed a state pension fund…
Critics Call Out Lax Utah Payday Loan Policy
This was supposed to be the year that consumer advocates were going to persuade the Legislature to clean up the Utah payday loan industry.
Editorial Criticizes Virginia Payday Advance Ruling
The following is a paraphrased editorial from The Daily Press in Virginia:
Texas Payday Loan Report: Loopholes Could Be Tighter
Texas has laws prohibiting payday advance loan lenders from charging high interest rates. It just doesn’t look that way.
Arkansas Payday Advance Bill Falls Short
A bill to hold Arkansas payday loan lenders to the state usury limit stalled in the Senate Insurance and Commerce Committee when only one of the…
Despite New Campaign, Payday Advance Lenders Under Fire
Soft music plays in the background of a new TV ad campaign as it urges viewers to only use cash loans for emergencies. One scene shows a broken-down car…
Editorial: South Carolina Payday Loans Run Counter to Bible
The following, paraphrased editorial is courtesy of The State:
Iowa Supreme Court Rejects Payday Loan Law Challenge
The Iowa Supreme Court rejected a challenge to a state law that allows payday loans with annual interest rates more than 300 percent.
Provincial Payday Advance Regulation Pushed in Canada
Local MP Colin Carrie is working with his government to push provincial regulation of the no fax payday loans industry.
Georgia Payday Loan Debate Heats Up
The Georgia General Assembly tried for decades to push payday lenders out of business. But the purveyors of short-term, high-interest payday loans always…
Payday Loan Companies Team with Minority Groups
The Community Financial Services Association of America, the national trade association for payday advance loan lenders, is planning to spend $10 million…
Coming to the Defense of Payday Loans
Courtesy of an AOL Money & Finance blog …
Spokesperson Analyzes Georgia Payday Advance Bill
Niger Innis, National Spokesperson for the Congress of Racial Equality (CORE) writes a letter regarding House Bill-163 (HB-163)to Senators and…
Missouri Credit Counseling Service Responds to Payday Advance Abuse
Divorce. Depression. Suicide.
Efforts to Reform Virginia Payday Loans Die in Final Hours
Efforts to place modest reforms on the Virginia payday loan lending industry died Saturday when negotiations broke down in the General Assembly’s final…
South Carolina Payday Loan Panel Planned
The South Carolina Department of Consumer Affairs (SCDCA) presents “Payday Lending, Title Lending And Mortgage Scams” on Tuesday as part of its monthly…
Students Warned Against Use of Cash Loans
The end of the month approaches and, with it, come the bills. The combination of rent, cell phone bill, credit card payment and other expenses can start…
Taking Out Cash Loans Not Always the Best Move, Editorial Advises
The Community Financial Services Association of America, the national trade association for no fax payday advance lenders, is planning to spend $10…
Tennesee Payday Advance Owner Defends Practice
As founder and CEO of one of the country’s largest privately held fast payday advance companies, Allan Jones would like to disprove some of the payday…
Payday Advance Industry Changes Questioned
Payday cash advance lenders have begun to hound Rena McFadden’s husband, threatening to take him to court unless he quickly repays the more than $2,000 he…
Georgia Takes More Steps to Bringing Back Payday Loans
Three years after they made Georgia the nation’s only state to specifically outlaw payday advance lending, state legislators moved another step toward…
Vote Delayed on Utah Payday Loan Stores
Only one more Utah payday loan store might be allowed in Sandy if the suburb decides to shut its door to such businesses.
Democrats Vow to Limit Payday Advance Industry in Wisconsin
Democrats who control the state Senate promised today to put new limits fast payday advance lenders, which they called a growing industry that preys on…
Governor Will Make Changes to Virginia Payday Advance Bill
Governor Tim Kaine said today he would make “significant changes” to a package of Virginia payday loan lending industry reforms if the bill comes to him.
Payday Loan Lenders Look to Self-Imposed Regulations
The payday cash loan lending industry, often under attack by consumer groups, rolled out a new list of best practices Wednesday at a time when Democrats…
Arizona Payday Advance Bill Falters; Residents Defend Cash Loans
Vicky Greathouse needed cash when her mother-in-law passed away, but she said her longtime bank turned her away. The Glendale woman found help at a quick…
Payday Loans are Necessary Product
Lawrence Meyers is the co-founder of Payday Lender’s Capital, which provides financing for payday lenders. He penned the following, summarized article for…
Kansas Credit Union - Alternative to Payday Loans - Goes Insolvent
A credit union that provided low-interest loans and financial counseling to help people pay off high-interest bad credit payday loans has been declared…
Consider Credit Unions Over South Carolina Payday Loans
Got an emergency and need a couple hundred dollars to get by? Don’t turn to fast payday loan lenders.
Missouri Residents Discuss Payday Loan Use
Last year, more than 2.8 billion Missouri payday loans were granted, translating to millions of dollars in interest money collected.
Legislators Prepare to Take on Missouri Payday Loans, Cash Advances
Consumer advocates are fighting back against an industry that they say takes advantage of financially strapped Missourians.
Payday Cash Loan Agreement Made in New Mexico
Two lawmakers who were carrying rival New Mexico payday loan bills have reached a compromise, Gov. Bill Richardson announced Tuesday.
Virginia Governor Heads Payday Advance Loan Attack
Gov. Timothy M. Kaine (pictured) is now personally involved in efforts to clamp down on the regular and online payday advance industry.
Mayorial Candidate Talks About Payday Loan Past
In 1999, all over Pennsylvania, thousands of people strapped for cash lined up at the storefront offices of a short-term loan company.
Arkansas Payday Loan Bill Easily Passes
A bill to severely limit interest rates charged for payday loans overwhelmingly passed the Arkansas House of Representatives on Thursday, marking the…
Arkansas Payday Loans Will Survive … with Tougher Regulations
Market demand for short-term, bad credit payday loans could be the saving grace for Arkansas’ payday lenders, but the industry likely will not escape the…
Inside the Arkansas Payday Loan Bill
Never have lamentations about the plight of the poor been so loud at the state Capitol, and The Arkansas Leader predicts that never will so much harm be…
Texas Payday Loans? Know the Facts Before Applying
Coming soon to a strip mall near you: A neon sign of the times, promising a quick and easy fix to the financial problems that ail you.
Virginia Payday Loan Bill Withdrawn
The sponsor of a House of Delegates bill to reform the Virginia payday loan industry withdrew his bill Tuesday, three days after it was amended to…
Nevada Legislator Wants to Close Payday Loan Loophole
Assembly Speaker Barbara Buckley says several companies are evading Nevada’s payday loan laws by using a loophole that enables them to charge sky-high…
Utah Payday Loan Regulation Unlikely to Pass
This was supposed to be the year that consumer advocates were going to convince the Legislature to pass sweeping reforms for the Utah payday loan industry.
Warning Issued on Hawaii Payday Advance Rates
Out of cash with no credit and zero savings? Quick payday advance lenders across Hawaii are looking for people like you.
Georgia Payday Loans are Form of “Servitude,” Insurance Commish Says
Characterizing payday lending as a form of “economic servitude,” Georgia Insurance Commissioner John Oxendine vowed Monday to fight legislation that would…
Montana Payday Advance Customers Can Make Own Decisions
Jeff Mangan served two terms in the Montana House (1999-2002) and one term in the Senate (2003-2006).
Oregon Payday Advance Legislation Moves to House Floor
Proposals to close loopholes in tough new restrictions on easy payday loan lenders are headed for the House floor, after winning approval from members of…
West Virginia Payday Loan Fight: It’s All Over
Consumer advocates don’t plan to lobby lawmakers this session for a bill targeting personal cash loan lenders. They say they don’t need to, thanks to a…
Center for Responsible Lending Critiques Payday Loan Report
The Center for Responsible Lending has published a critique of major analytical flaws in a new working paper Defining and Detecting Predatory Lending on…
Microloans Meant as Alternative to Kansas Cash Advances
Mitzi Rivers stood before a crowd of about 20 bankers and credit union leaders - people who lead boards in Wichita and make headlines in The Wichita Eagle…
Another Virginia Payday Loan Take: Ban All Lenders
Fred Waddell is an associate professor emeritus at Auburn University. He recently wrote an opinion piece for The Roanoke Times …
Mail-In Campaign Focuses on Washington Payday Loan, Cash Advance Lending
There’s a new mail campaign urging state lawmakers to leave the check cash advance lending business alone.
Payday Loan Legislation Shackles Company Profits
The Motley Fool presents a business/stock market look at recent payday advance ruling …
Payday Advance Lenders Contribute Thousands to Virginia Lawmakers
The consumer lending and finance industry last year alone contributed $400,000 to state lawmakers - the bulk went to lawmakers serving on the committees…
Payday Advances: From All Sides
The Post and Courier takes a look at all sides of the South Carolina payday loan debate below …
Payday Advance Lending: Not the Worst Option
According to The Arizona Republic, payday lending just might be one of the best of the unappealing financing options open to cash-strapped individuals.
Payday Loan Company Closes Regional Training Transaction
Cash Now Corporation, a public payday loan company engaged in the design, manufacturing, marketing and distribution of customized cash advance and check…
Payday Loan Questions and Answers (2007)
We spend so much time talking about faxless payday loans, we figured it was a good time to stop for a moment and review various details regarding them:
Washington Newspaper: Payday Advances are Usury
“Usury” is a word you don’t hear too often anymore, at least outside the Department of Medieval Studies. So begins an opinion piece, paraphrased below, in…
Virginia Payday Loan Bill Passes Through Senate
The Virginia Senate passed a bill yesterday tightening regulations on instant payday loan lenders - but falling short of changes critics had sought.
Payday Loan Report Stirs National Debate
Payday loans are not necessarily predatory, says a surprising new report from the Federal Reserve Bank of New York.
Georgia House Proposal Would Bring Back Payday Loans, Cash Advances
Republican lawmakers filed a measure Wednesday that would repeal the landmark state law banning easy payday loan lending and replace it with a new system…
Montana Payday Loan Critics Point to Security Issues
Steve Doherty of Montana is the former minority leader of the Montana Senate and co-chair of the Progressive States Network. Dan Geldon of Massachussetts…
Report: Payday Loans NOT Predatory
Payday Loans Not Predatory.
Restrictions on Payday Loans Considered Throughout Kansas
Five years ago, Overland Park had two payday loan stores. Now there are 11, and city leaders don’t want more.
Strong Stance Taken Against South Carolina Payday Loans, Cash Advances
The Independent Mail puts it simply: the payday loan industry is evil, and South Carolina needs to ban it, just as neighbors have in North Carolina and…
Arizona Residents Deserve to Make Own Cash Advance, Payday Loan Choices
Jeff Albin is a regional manager (northern Arizona) at Quik Cash. Below is his paraphrased letter to the editor of The Arizona Republic:
New Hampshire Payday Loan Industry Faces Possible New Legislation
New Hampshire has become the magnet in New England for short-term high-interest providers of no fax payday loans - and state lawmakers are becoming…
Utah Banks: Offering Payday Loans?
They advertise some loans at 120 percent annual interest, but may charge up to an astronomical 3,650 percent. The personal loans are available at…
Kansas Payday Loans Face Wrath of Attorney General
Saying their industry takes advantage of the poor and the vulnerable, Attorney General Paul Morrison promised Friday to push for new restrictions on…
Rewrite Needed on South Carolina Payday Loan, Cash Advance Law
How does The State feel about South Carolina’s payday advance law? Let’s paraphrase a recent editorial from the paper below and find out …
Canadian Payday Loan Association: Set Cash Advance Caps
The Canadian Payday Loan Association is calling on provincial governments to set the maximum allowable charges and fees for regular and online payday…
New York Times: Don’t Blame Payday Loan Lenders
Robert H. Frank, an economist at the Johnson School of Cornell University, is the author of “The Economic Naturalist,” which will be published this…
California Payday Advance Lenders Under Scrutiny in Oceanside
The commander of all West Coast Marine Corps bases told the Oceanside City Council on Wednesday that many troops are falling into serious financial…
Payday Advance Focus Makes EZCORP Solid Stock
Motley Fool offers readers stock and financial tips. Here’s what it has to say about the future of one pawn shop/payday loan company:
Federal Reserve: Payday Loan Lending is NOT Predatory
The following is from a study just completed by the Federal Reserve:
Payday Loans Are a Consumer Choice, Editorial States
Patricia J. Cirillo, president of Cypress Research Group, a market and business research firm, is responding to the Dec. 26 editorial “Modern day usury /…
South Carolina House to Consider Payday Loan, Cash Advance Regulations
South Carolina House members will soon consider limits on savings account payday loan lending, including caps on annual interest rates and restrictions on…
Rein in Utah Payday Loans, Editorial Says
The payday lending industry will tell you it provides a needed service, says an editorial in The Desert News.
Crackdown on Payday Cash Loan Lenders Needed
A crackdown on predatory lending practices is long overdue in this state.
AARP in Arkansas Rallies Against Payday Loans
Hundreds of AARP Arkansas members dressed in red filled the Capitol rotunda Wednesday to rally support for legislation to create a program to counsel and…
Georgia Payday Loan Lenders Argue Case in Court
The Macon Telegraph ran the following, paraphrased editorial:
Payday Advance Culprit Sentenced to Jail Time
A Lynchburg woman who embezzled $8,000 from a payday loan company will serve 10 days in the Amherst County Jail.
Consumer Borrowing Sky-Rockets in November
Americans pulled out their credit cards again in November after having locked them away for safe keeping in the prior month, the Federal Reserve announced…
Arizona Senator: Payday Loan Stores Should Leave City, State
Sen. Chuck Gray, (R-Mesa, pictured) introduced a bill Tuesday that would limit instant payday loan store interest rates to 36 percent annually, including…
Utah Councilwoman Focuses on Payday Advances
Nancy Saxton wants to crack down on faxless payday loan companies that provide short-term loans and charge annual interest rates of up to 550 percent.
Virginia Payday Loans Enjoy Support, Face Opposition
Cynthia Smith is a fan of payday cash loan outfits, despite interest rates 10 times what other lending institutions can charge.
Senator Calls for Payday Cash Advance, Predatory Lending Reform
The government must reform lending practices - such as those involving payday cash advances - that prevent the poor from saving money and owning a home…
Wisconsin Payday Loan Warning Issued
Grace Jones is executive director of Couleecap, a private nonprofit 501(c)3 charitable organization created in 1966. She recently wrote in to The La…
Banking Groups Push Pentagon to Narrowly Apply Payday Advance Law
Banking trade groups want the Pentagon to narrowly apply a law that caps interest rates and fees on military payday loans only and not to other credit…
Judge Permits Canadian Payday Advance Loan Suit
An Ontario judge has certified a class-action lawsuit against payday loan companies that claims their rates are excessive.
Alabama Small Loan Act Should Cover Payday Advances
Barbara Evans is director of Alabama Watch. She recently wrote in to the Montgomery Adviser …
Kansas Banks May Offer Payday Loan Alternatives
A federal bank regulator is trying to get state-chartered banks to offer short-term, small-dollar loans in an effort aimed directly at the payday loan…
Kansas City Moves to Bar Payday Loan Stores
A City Council committee moved Wednesday to keep new payday loan businesses from opening in Kansas City.
Payday Loans Not Always the Answer to Holiday, Consumer Debt
Now that the holidays are over, many Americans are beginning the climb out of staggering holiday debt that often looms long and large after the season is…
Miami Herald: Payday Loans Trap You in Debt
Payday lenders pocket $4.2 billion in excessive fees each year from Americans who seek a two-week loan and end up trapped in debt, according to a report…